Distribution territories: $1.00, $1.10, $1.20.
Accumulation territories: $0.40, $0.30, $0.20.
The trend outlook of XRPUSD remains ranging this week. As it has can closely observed, there have been lower highs than lower lows over the past few days when compared to last week’s performance. The range-bound movement remains intact, as neither the bulls or the bears have been able to move the market upwards or downwards. The 50-day SMA is above the 13-day SMA.
The price has been traded between the trend-lines of both SMAs. The Stochastic Oscillators have moved northward almost to the point of touching the range 80. The market’s strength may be driven towards the accumulation territory of $0.50, but sooner or later the bulls will take over.
There is a much stronger case for a bullish trend than for a bearish trend in XRP’s outlook. Both traders and investors can potentially gain a great deal by entering long trading positions especially while there are decent reversals from any seemingly bearish move on the asset